Hikari Tsushin Cash Flow Statement

Financials in millions JPY. Fiscal year is April - March.

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar '26 Mar 31, 2026	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022
Net Income	151,014	150,718	168,000	118,479	107,978
Depreciation & Amortization	16,475	14,076	14,556	16,253	16,727
Loss (Gain) on Equity Investments	-26,850	-18,141	-20,855	-16,322	-13,018
Other Operating Activities	10,821	-48,440	-48,959	-29,272	-36,795
Change in Accounts Receivable	-66,981	-55,114	15,980	-36,480	-29,258
Change in Inventory	350	-23	-53	-1,090	-182
Change in Accounts Payable	-17,813	49,861	15,049	19,437	8,915
Change in Other Net Operating Assets	-9,943	-8,101	-13,518	-16,201	-3,339
Operating Cash Flow	57,073	84,836	130,200	54,804	51,028
Operating Cash Flow Growth	-32.73%	-34.84%	137.57%	7.40%	-12.20%
Capital Expenditures	-19,399	-21,553	-18,283	-18,347	-17,990
Sale of Property, Plant & Equipment	108	3	37	68	32
Cash Acquisitions	212	-7,083	-504	-2,054	221
Divestitures	-703	2,736	5,300	27,154	3,344
Investment in Securities	-82,857	-146,658	-81,739	-87,545	-82,399
Other Investing Activities	426	-2,905	332	499	-871
Investing Cash Flow	-104,100	-177,251	-94,718	-79,349	-95,990
Short-Term Debt Issued	-	-	36,895	15,160	7,482
Long-Term Debt Issued	271,628	211,301	137,540	130,836	159,895
Total Debt Issued	271,628	211,301	174,435	145,996	167,377
Short-Term Debt Repaid	-1,868	-58,004	-	-	-
Long-Term Debt Repaid	-120,137	-45,419	-71,722	-43,770	-73,189
Total Debt Repaid	-122,005	-103,423	-71,722	-43,770	-73,189
Net Debt Issued (Repaid)	149,623	107,878	102,713	102,226	94,188
Repurchase of Common Stock	-6,143	-10,001	-13,003	-7,094	-14,799
Common Dividends Paid	-32,141	-30,222	-25,958	-23,769	-21,848
Other Financing Activities	-6,654	-937	-8,430	-2,146	-7,451
Financing Cash Flow	104,685	66,718	55,322	69,217	50,090
Foreign Exchange Rate Adjustments	11,921	-2,537	18,336	6,444	8,439
Miscellaneous Cash Flow Adjustments	2	3,657	-3,656	1	151
Net Cash Flow	69,581	-24,577	105,484	51,117	13,718
Free Cash Flow	37,674	63,283	111,917	36,457	33,038
Free Cash Flow Growth	-40.47%	-43.45%	206.98%	10.35%	-22.81%
Free Cash Flow Margin	5.13%	9.22%	18.59%	5.66%	5.71%
Free Cash Flow Per Share	858.27	1437.76	2519.91	813.23	727.21
Cash Interest Paid	15,944	10,957	9,619	7,705	6,403
Cash Income Tax Paid	21,589	56,688	26,485	28,224	33,209
Levered Free Cash Flow	-49,204	61,913	49,141	9,915	17,329
Unlevered Free Cash Flow	-35,205	69,377	54,768	14,789	21,646
Change in Working Capital	-94,387	-13,377	17,458	-34,334	-23,864

Source: S&P Global Market Intelligence. Standard template. Financial Sources.